Mixed-use Investment Opportunity at 71 18 Myrtle Avenue

FOR SALE

$1,695,000

71 18 Myrtle Avenue, Glendale, NY 11385

3,780 SF

Square Feet

$448

PPSF

5.91%

CAP

Property Description

NOI

$100,204

Cap Rate

5.91%

Fantastic investment prospect: this mixed-use property, located in Glendale, features five residential units with different layouts and a commercial space, offering a 6% cap rate. Both commercial and residential units are below market rates and present opportunity for substantial upside. Residential units can be delivered vacant. Commercial space is set up as Nail salon and currently leased on month to month basis.

Property Details

Asset Type

Mixed-use

Year Built

1931

Zoning

R5D, C2-3

Lot Size

1,872 SF

Neighborhood

Glendale

Submarket

Glendale

ZIP

11385

Listing Type

sale

Offering Memorandum

Download

Purchase Price ($)

Down Payment (%)

Interest Rate (%)

Amortization

Loan Term

Gross Income ($)

Vacancy Rate (%)

Mgmt Fee ($)

Insurance ($)

Maintenance ($)

Utilities ($)

Property Taxes ($)

Reserves ($)

Net Operating Income (NOI)

$158,974

Debt Service Coverage Ratio (DSCR)

1.65x

Cap Rate

9.38%

Cash Flow (Annual)

$62,552

Cash-on-Cash Return

14.76%

Monthly Debt Service

$8,035

Annual Debt Service

$96,422

View on Map

Address

71 18 Myrtle Avenue

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Glendale Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale

No investors found in this market.

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Cassandra Reed-Frank

Licensed Associate Broker

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Tatiana Shreider

Licensed Real Estate Salesperson

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